Daiwa Securities Group Inc. Has $9.39 Million Stock Holdings in Performance Food Group (NYSE:PFGC)

Daiwa Securities Group Inc. grew its holdings in Performance Food Group (NYSE:PFGC) by 32.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,747 shares of the food distribution company’s stock after purchasing an additional 33,373 shares during the quarter. Daiwa Securities Group Inc. owned about 0.09% of Performance Food Group worth $9,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFGC. American Century Companies Inc. lifted its stake in shares of Performance Food Group by 11.8% in the 1st quarter. American Century Companies Inc. now owns 29,041 shares of the food distribution company’s stock valued at $1,479,000 after purchasing an additional 3,064 shares during the period. US Bancorp DE raised its stake in Performance Food Group by 8.1% during the 1st quarter. US Bancorp DE now owns 4,602 shares of the food distribution company’s stock worth $234,000 after buying an additional 343 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Performance Food Group during the 1st quarter worth approximately $71,000. PNC Financial Services Group Inc. raised its stake in Performance Food Group by 33.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,458 shares of the food distribution company’s stock worth $737,000 after buying an additional 3,588 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in Performance Food Group by 8.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 86,254 shares of the food distribution company’s stock worth $4,516,000 after buying an additional 6,905 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PFGC has been the topic of a number of research reports. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Stephens boosted their price objective on Performance Food Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Morgan Stanley upped their target price on Performance Food Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Barclays upped their target price on Performance Food Group from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, BMO Capital Markets upped their target price on Performance Food Group from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Performance Food Group Price Performance

Performance Food Group stock opened at $68.04 on Friday. Performance Food Group has a 12 month low of $52.92 and a 12 month high of $78.54. The company has a current ratio of 1.71, a quick ratio of 0.75 and a debt-to-equity ratio of 1.05. The business’s 50 day simple moving average is $74.10 and its 200 day simple moving average is $67.87. The company has a market cap of $10.59 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 0.97 and a beta of 1.38.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, February 7th. The food distribution company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.20 billion. Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. Performance Food Group’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 EPS. Sell-side analysts forecast that Performance Food Group will post 4.26 EPS for the current year.

About Performance Food Group

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.